NEW YORK, Oct. 15, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Altimmune, Inc. ("Altimmune" or the "Company") (NASDAQ: ALT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Altimmune and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 28, 2021, Altimmune reported 12-week data from the Phase 1 trial conducted in Australia for its product candidate pemvidutide in overweight and obese volunteers. While the Company touted the efficacy of the 1.8 mg arm of the study, its side effects stood out. For example, in the 1.8 mg arm, out of nine participants, about 56% had experienced mild nausea, the highest percentage in the multiple ascending doses (MAD) portion of the study.
On this news, Altimmune's stock price fell $3.88 per share, or 25.54%, over three trading sessions, to close at $11.31 per share on September 30, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.